"This was a joyous note to shareholders. And then a fabulous arc of an interview that he does with the Q&A. I urge anyone who owns Netflix and owns it because they think it's terrific read his note," Cramer said on CNBC's "Squawk on the Street."

When asked if specific shows are the explanation behind Netflix's subscriber growth, Hastings offered the following explanation:

"Very few people will join Netflix for just one title, but there's a tipping point, one more title you're hearing about, that causes you to join," he said during the conference call.

Shares of Netflix were up more than 6 percent Thursday in intraday trade, trading at all-time high levels back to its IPO in May 2002. The company hit an intraday high on Thursday of $143.46 a share.